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$228k sneakers to sell at rare auction

Pictured: Rare NIke sneakers which will sell at Sotheby's auction. Images: Sotheby's, Getty
Sotheby's is auctioning 100 pairs of rare sneakers. Images: Sotheby's, Getty

Dozens of rare sneakers will be auctioned in coming weeks, with some expected to go for as much as $228,000.

Sotheby’s is auctioning 100 pairs of rare sneakers in a collaboration with rare sneaker retailer, Stadium Goods until 23 July.

The auction's crown jewel is undoubtedly the pair of handmade Nike 'Moon Shoe' circa 1972, designed by Nike co-founder and Oregon University track coach Bill Bowerman,” Sotheby’s associate editor Halina Loft explained.

“This is a significant artifact in Nike's history: created for the 1972 Olympic Trials, this shoe is one of only 12 produced – today, it's one of only a handful known to exist.”

This shoe has a pre-sale estimate of US$160,000 (AU$228,000).

However, with another 99 pairs on sale, there are many other gems.

The 2011 and 2016 versions of the Back to the Future Part II-inspired Nike sneakers, the Nike Mag sneakers, will also be auctioned off to the highest bidder.

NIKE, NIKE WAFFLE RACING FLAT, MOON SHOE, SIZE 12.5, 1972 Image: Sotheby's
NIKE, NIKE WAFFLE RACING FLAT, MOON SHOE, SIZE 12.5, 1972 Image: Sotheby's

There were only 89 pairs of the 2016 version and - just like those worn by Marty McFly - these sneakers are self-lacing.

These shoes are expected to sell for a massive US$70,000.

Limited-edition Adidas, Air Jordan and Yeezy sneakers will also be up for bidding.

NIKE, NIKE MAG, BACK TO THE FUTURE 2016, SIZE 11, 2016. Image: Sotheby's
NIKE, NIKE MAG, BACK TO THE FUTURE 2016, SIZE 11, 2016. Image: Sotheby's

“We’ve long talked about how sneakers are this generation’s luxury fashion, and being able to collaborate with a brand with the history and esteem of Sotheby’s is further proof of that,” the co-founder of New York business Stadium Goods, John McPheters said in a statement.

JORDAN | TRAVIS SCOTT - JORDAN 4 “CACTUS JACK” F&F COLLECTION | [5 PAIRS], 2018. Image: Sotheby's
JORDAN | TRAVIS SCOTT - JORDAN 4 “CACTUS JACK” F&F COLLECTION | [5 PAIRS], 2018. Image: Sotheby's

If you’re interested, you can bid online.

You can invest in sneakers too

The global sneaker resale market is worth a staggering $6 billion, with some investment firms like Cowen now considering sneakers an alternative asset class.

According to Farfetch, the Nike SB What the Dunk model sneaker has increased in value by a whopping 4067 per cent - from AU$173 to AU$7,217 since it was released, while the Kanye West x Louis Vuitton trainers - now worth AU$43,403 are the most valuable sneakers in the world.

These are the most expensive sneakers in the world, according to Stadium Goods.

Model

Current Value

Louis Vuitton Kanye West x Louis Vuitton

AU$43,303

Nike Air Mag

AU$21,650

Chanel x Pharrell x adidas NMD Hu

AU$20,201

Nike Air Yeezy 2 Red October

AU$12,124

Nike Air Yeezy 2 Solar Red

AU$11,547

Nike Air Yeezy Blink

AU$8,660

Nike Air Yeezy 2 Platinum

AU$8,660

Off-White x Air Jordan 1 Chicago

AU$8,660

Nike Lunar Flyknit HTM Milano

AU$8,444

Air Jordan 5 Retro T23 Tokyo

AU$7,578

And these are the sneakers that have grown the most in value.

Model

Value Increase

Nike SB What The Dunk

4,067%

Nike Lunar Flyknit HTM Milano

3,800%

Nike Air Yeezy 2 Red October

3,633%

Nike Air Yeezy 2 Solar Red

3,456%

Nike Air AMS Max Amsterdam

3,233%

Off-White x Air Jordan 1 Chicago

3,058%

Kanye West x BAPE Bapesta

2,678%

Nike Air Force 1 '07 Off White – ComplexCon

2,567%

Louis Vuitton Kanye West x Louis Vuitton

2,532%

Air Jordan 5 Retro T23 Tokyo

2,449%

Sneaker expert and the author of 1000 Sneakers, Mathieu Le Maux said sneakers are increasingly collectible due to their links to the past.

They can take the owners back to their childhood, but are also an attractive object. Then there’s the fact that some investors prefer to invest in physical objects, rather than the stock market.

“It’s difficult to know for certain whether a sneaker will appreciate in value,” he added.

“However, there are a few signals that would allow you to “bet” on it. If it’s a limited edition of an iconic model that is revisited by a famous designer or an world-famous artist, it is very likely that its value will increase.”

Sneakers with larger sizes (8 to 10 - UK, 9 to 11 - US) may also grow more in value as more men are wearing those sizes.

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